Eric Gacuruzwa

London

Contributor at FurtherAfrica

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Articles

Africa Finance Corporation Identifies $4 Trillion in Domestic Capital for Infrastructure Development

2 days ago | furtherafrica.com | Eric Gacuruzwa

The Africa Finance Corporation (AFC) has revealed that up to $4 trillion in capital is available within the African continent—an untapped resource that could be strategically mobilised to address the continent’s vast infrastructure deficit. The announcement underscores the urgency of shifting focus from external financing towards harnessing local capital for sustainable development.
IRH Acquisition of Alphamin Boosts UAE’s Critical Minerals Strategy in DRC

2 days ago | furtherafrica.com | Eric Gacuruzwa

Abu Dhabi-based International Resources Holding (IRH) has acquired a controlling 56% stake in Alphamin Resources, the company behind the Bisie tin mine in the eastern Democratic Republic of Congo (DRC). The $367 million deal not only cements IRH’s influence over one of the world’s highest-grade tin operations but also grants it offtake rights—allowing the firm to trade a portion of the mine’s production on global markets.
Nigeria Unveils Tax Incentives for Efficient Upstream Oil

3 days ago | furtherafrica.com | Eric Gacuruzwa

President Bola Ahmed Tinubu signed a historic executive order that will reduce the cost of the cost of projects and spur investment in Nigeria‘s upstream oil and gas sector. The Upstream Petroleum Operations Cost Efficiency Incentives Order (2025) injects tax credits on a performance basis to incentivise operators that achieve measurable cost savings that are at industry standards.
Rwanda Paves the Way for the Future of Visa-Free Travel in Africa

3 days ago | furtherafrica.com | Eric Gacuruzwa

Rwanda is at the forefront of African integration with a bold and visionary move: all African Union (AU) member state citizens can now visit the country visa-free for up to 30 days. This groundbreaking policy marks a new chapter in how African nations engage—fostering deeper economic cooperation, cultural exchange, and intra-continental mobility.
Kigali’s Distance-Based Bus Fare System Gains Ground Amid Early Challenges

4 days ago | furtherafrica.com | Eric Gacuruzwa

Kigali’s innovative distance-based bus fare system is steadily reshaping urban commuting, with early signs pointing to improved cost fairness and a more transparent public transport experience. Introduced on 4 December 2024, the Kigali distance-based bus fare system calculates fares according to the distance travelled, allowing passengers to pay proportionally for shorter journeys. The system works through the city’s existing Tap&Go smart card infrastructure.
Africa’s Largest Wind Farm Commissioned in Egypt by AMEA Power

4 days ago | furtherafrica.com | Eric Gacuruzwa

The 500MW wind power plant in Ras Ghareb, located within Egypt’s Red Sea Governorate, has officially become the largest operational wind farm in Africa—cementing Egypt’s role as a beacon in the continent’s renewable energy revolution. This success follows the commissioning of AMEA Power’s 500MW solar PV plant in Aswan in November 2024, bringing the company’s total commissioned capacity in Egypt to 1 gigawatt (GW) within just six months.
Bank of Mozambique Cuts Interest Rate to 11%

5 days ago | furtherafrica.com | Eric Gacuruzwa

In a decisive move to support economic recovery, the Bank of Mozambique has lowered its benchmark interest rate for the ninth consecutive time, cutting the Monetary Policy Interest Rate (MIMO) from 11.75% to 11.00%. This reduction, announced on Friday, marks the lowest rate since 2021 and reflects the central bank’s growing confidence in the country’s macroeconomic trajectory.
Ghanaian Fintech Nsano Expands into Rwanda

6 days ago | furtherafrica.com | Eric Gacuruzwa

Ghanaian fintech company Nsano Ltd has officially expanded its operations to East Africa by setting up a regional office in Rwanda. This follows after the company acquired Payment Aggregation and Payment Remittances Service Licenses (Category II and III) from the National Bank of Rwanda. Established in 2013, Nsano has evolved into a pan–African digitalpayments behemoth from a value–added services originator.
Sidi Ould Tah Elected President of the African Development Bank Group

1 week ago | furtherafrica.com | Eric Gacuruzwa

Sidi Ould Tah of Mauritania has been elected the new President of the African Development Bank Group (AfDB), following a vote by the Bank’s Board of Governors during its Annual Meetings in Abidjan, Côte d’Ivoire. The announcement was made by Nialé Kaba, Côte d’Ivoire’s Minister of Planning and Development and Chairperson of the Board of Governors—the institution’s highest decision-making body comprising finance ministers and central bank governors from the Bank’s 81 member countries.
Mobilising Global Capital: African Sovereign Wealth Funds Take Centre Stage at ASIF 2025

1 week ago | furtherafrica.com | Eric Gacuruzwa

The Nigeria Sovereign Investment Authority (NSIA) will host the Africa Sovereign Investors Forum (ASIF 2025) in Abuja from 16–17 June 2025, signalling a renewed commitment to advancing Africa’s development through strategic capital mobilisation. As sovereign wealth funds increasingly position themselves as drivers of transformation, the ASIF 2025 gathering is expected to reinforce their role in reshaping Africa’s financial future.